VR315 US Milestone Payment

Vectura Group plc

VR315 US - Clinical Study Report final, triggers milestone payment

Chippenham, UK - 10 February 2016: Vectura Group plc (LSE: VEC; "Vectura" or "the Company"), confirms that following the announcement in January 2016 confirming the completion of a clinical trial for VR315 in the US, the Clinical Study Report is now final. This triggers a cash milestone payment to Vectura of $2 million.

VR315 is a generic, inhaled combination therapy (fluticasone/salmeterol) for asthma/COPD delivered using Vectura's proprietary dry powder inhaler and formulation technology.

Vectura is eligible to receive a further $21 million upon achievement of future pre-determined development milestones on VR315. The next planned milestone and announcement scheduled for this programme is $10 million due to be paid upon acceptance for filing of the ANDA by FDA. In addition, Vectura will receive a royalty from all sales of VR315 in the US. 

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Enquiries

About VR315

VR315 is a generic, inhaled combination (fluticasone/salmeterol) therapy for asthma/COPD delivered using Vectura's proprietary dry powder inhaler and formulation technology.

Full details of the completed trial are available on www.clinicaltrials.gov.

About Roxane Laboratories, Inc.

Roxane Laboratories is located in Columbus, Ohio, in a modern 500,000-square-foot manufacturing and laboratory facility that spans 70 acres and employs more than 1,400 people. Roxane markets more than 80 medications in nearly 250 package sizes, focusing on an expanding line of Generic pharmaceutical products, including bulk and unit-dose liquids and solids; coated, sustained-release and controlled-release tablets; nasal sprays, - potent compounds and CII narcotics.

Roxane Laboratories, Inc. is a subsidiary of Boehringer Ingelheim Corporation, based in Ridgefield, CT, and a member of the Boehringer Ingelheim group of companies.

For more information, please visit www.roxane.com.

About Vectura

Vectura is a leading independent inhaled device, formulation, development and specialist commercial business focusing on the development of pharmaceutical therapies for the treatment of airways diseases.

Vectura has eight products marketed by partners with growing global royalty streams and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura currently has disclosed development collaborations and licence agreements with several global pharmaceutical and biotechnology companies, including Roxane Laboratories, Inc., Novartis, Sandoz, Baxter, GlaxoSmithKline, UCB, Ablynx, Grifols, Janssen Biotech and Tianjin KingYork Group Company.

Vectura develops products for airways diseases helping airways disease patients to improve their lives through uniquely applied insight and excellence in inhaled device engineering, formulation technology, product development and specialist commercialisation.

For further information, please visit Vectura's website at www.vectura.com.

Forward-looking statements

This press release contains forward-looking statements, including statements about the discovery, development and commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.